PBOC uses lower-profile swaps market to bolster Yuan - WSJ

In a gated piece, the Wall Street Journal (WSJ) cited four traders at four major financial institutions in Shanghai, as saying that the People’s Bank of China (PBOC) has shifted away from traditional intervention, or selling billions of dollars to buy Yuan.

The Chinese central bank, instead, acted through lower-profile foreign-exchange swaps in a bid to boost the forward confidence in the Yuan.